In an interview with Bloomberg, Minister for National Development Lawrence Wong, has said that the Singapore government is set to give out a “strong economic package” in the coming Budget 2020, as part of the government’s effort to ease the economic fallout from the virus, and to make the PAP look good that they can handle any economic problems thrown at them.
Lawrence Wong is also the co-chairman of the multi-Ministry task-force on Covid- 19, thus he will have a direct view of how the virus is affecting Singapore’s economy. As China’s economy is one of the biggest in the world, the virus has almost ensured that supply chains have been disrupted due to China’s economic slowdown and this has caused a blow in the global economy, which will definitely affect Singapore.
In response to queries on how the government’s budget will tackle the virus outbreak, Wong said that they are preparing a strong package in the budget to help company as well as employees to stay in their jobs. However, Wong refused to reveal details of the economic package, stating instead that Singaporeans will have to wait until 18 February, when DPM and Finance Minister releases the Budget 2020.
As a comparison to the last virus that affected the vast majority of Singaporeans, at the height of the SARS virus, the government placed a $230 million SARS relieve package, back in 2003. So, like all Singaporeans, all of us have to wait until the Budget 2020 on 18th February to know what sort of package we will be given by the government.
This represents a perfect timing for them to up their wayang game, and win the favour of Singaporeans just before the next GE is called.